Fulton Financial Corporation (NASDAQ:FULT) Receives $23.00 Average Target Price from Brokerages

Shares of Fulton Financial Corporation (NASDAQ:FULT) have been given an average recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $23.00.

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Fulton Financial from a “hold” rating to a “sell” rating in a report on Sunday. Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Fulton Financial in a report on Monday, April 27th. DA Davidson started coverage on shares of Fulton Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $24.00 target price on the stock. Finally, Weiss Ratings raised shares of Fulton Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday.

Fulton Financial Trading Down 2.0%

NASDAQ:FULT opened at $21.19 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $3.81 billion, a PE ratio of 10.09 and a beta of 0.81. The firm’s 50 day moving average is $20.81 and its 200 day moving average is $19.89. Fulton Financial has a 12 month low of $16.60 and a 12 month high of $22.99.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $331.86 million for the quarter, compared to analysts’ expectations of $359.36 million. Fulton Financial had a net margin of 20.85% and a return on equity of 12.50%. During the same quarter in the previous year, the firm posted $0.52 EPS. Sell-side analysts expect that Fulton Financial will post 2.17 earnings per share for the current year.

Fulton Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.76 dividend on an annualized basis and a yield of 3.6%. Fulton Financial’s payout ratio is presently 36.19%.

Insider Transactions at Fulton Financial

In other Fulton Financial news, Director E Philip Wenger sold 5,000 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $21.42, for a total transaction of $107,100.00. Following the sale, the director owned 80,477 shares of the company’s stock, valued at $1,723,817.34. The trade was a 5.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Fulton Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB raised its holdings in Fulton Financial by 25.2% during the 4th quarter. Nordea Investment Management AB now owns 737,737 shares of the bank’s stock valued at $14,327,000 after acquiring an additional 148,399 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Fulton Financial by 46.6% in the third quarter. JPMorgan Chase & Co. now owns 603,553 shares of the bank’s stock worth $11,244,000 after purchasing an additional 191,764 shares during the period. Econ Financial Services Corp bought a new position in shares of Fulton Financial in the fourth quarter worth $2,018,000. Fisher Asset Management LLC increased its holdings in shares of Fulton Financial by 6.4% in the third quarter. Fisher Asset Management LLC now owns 3,363,509 shares of the bank’s stock worth $62,662,000 after purchasing an additional 203,708 shares during the period. Finally, Ruffer LLP bought a new position in shares of Fulton Financial in the fourth quarter worth $3,074,000. Institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.